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QBTS

D-Wave Quantum Inc.

Price Chart
Latest Quote

$24.69

+1.77 (+7.72%)
Current Price
Previous Close $22.92
Open $23.66
Day High $24.70
Day Low $22.54
Volume 30,819,627
Fetched: 2026-06-22T01:30:15
Stock Information
Shares Outstanding 367.27M
Total Debt $46.82M
Cash Equivalents $588.40M
Revenue $12.44M
Net Income $-368.00M
Sector Technology
Industry Computer Hardware
Market Cap $9.15B
EPS (TTM) $-1.14
Exchange NYQ
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📊 Comprehensive Analysis
Company Data
Enterprise Value$8.59B
Sales$12.44M
Income$-368.00M
Book/sh$2.38
Cash/sh$1.60
Employees382
Financial Ratios
Quick Ratio21.13
Current Ratio21.41
Debt/Eq4.17
Returns & Margins
ROA-11.78%
ROE-55.27%
Gross Margin66.27%
Operating Margin-1914.87%
Ownership
Insider Ownership2.28%
Institutional Ownership48.49%
Insider & Institutional transactions data not available
Valuation Ratios
Forward P/E-64.18
P/S735.00
P/B10.39
Analyst Data
Recommendationstrong_buy
Target Price$36.84
Technical Indicators
SMA20$26.29
SMA50$22.49
SMA200$23.86
RSI37.33
ATR2.6446
Shares Float358.15M
Short Float16.81%
Short Ratio1.39
Volatility2.06
Rel Volume0.67
Performance History
Week+3.65%
Month+35.73%
Quarter+53.35%
6 Months-3.25%
YTD-12.23%
Year+58.78%
3 Years+1081.34%
5 Years+149.14%
10 Years+143.25%
Stock Score: ⭐ Premium
Based on debt, profitability, growth, and cash flow metrics
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Recent Price History
Date Close Volume
2026-06-18 $24.69 31,044,300
2026-06-17 $22.92 27,645,800
2026-06-16 $23.94 29,431,600
2026-06-15 $26.26 44,959,900
2026-06-12 $23.37 27,862,100
2026-06-11 $23.82 25,165,300
2026-06-10 $23.25 20,856,500
2026-06-09 $23.52 37,886,900
2026-06-08 $25.83 29,009,500
2026-06-05 $23.85 34,320,000
2026-06-04 $27.64 39,223,000
2026-06-03 $27.55 42,311,000
2026-06-02 $29.91 48,442,500
2026-06-01 $29.18 49,079,000
2026-05-29 $30.14 36,381,200
2026-05-28 $29.49 54,482,200
2026-05-27 $27.48 34,015,400
2026-05-26 $27.82 54,691,500
2026-05-22 $29.40 141,703,200
2026-05-21 $25.74 119,132,500
2026-05-20 $19.30 21,855,400
2026-05-19 $18.19 21,512,900
About D-Wave Quantum Inc.

D-Wave Quantum Inc. engages in the development and delivery of quantum computing systems, software, and services worldwide. It provides Advantage and Advantage 2 quantum computers; Ocean, a suite of open-source tools; and Leap quantum cloud service, a cloud-based service that provides real-time access to quantum computers and quantum hybrid solvers; and secure access and data protection services, as well as Ocean software development kit (SDK), a Python-based SDK for developers to learn and build applications on company's server. The company also provides Leap hybrid solver service that offers a combination of quantum and classical computation resources and advanced algorithms to solve problems of enterprise scale; and D-Wave Launch, a phased approach to identify and build in-production quantum hybrid applications, including training sessions and quantum computing access. In addition, the company offers D-Wave Advantage annealing quantum computing systems; and Ocean developer tools. Its quantum solutions are used in allocation, resource scheduling, factory scheduling, vehicle routing, logistics optimization, drug discovery, industrial construction design, portfolio optimization and maintenance, repair, and overhaul optimization. D-Wave Quantum Inc. was founded in 1999 and is based in Palo Alto, California.

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Income Statement (Annual)
Metric 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Revenue
Reconciled Cost Of Revenue $4,281,000 $3,264,000 $4,136,000 $2,923,000
Cost Of Revenue $4,281,000 $3,264,000 $4,136,000 $2,923,000
Total Revenue $24,587,000 $8,827,000 $8,758,000 $7,173,000
Operating Revenue $24,419,000 $8,683,000 $8,711,000 $7,094,000
Expenses
Interest Expense $4,013,000 $3,897,000 $37,000 $2,335,000
Total Expenses $124,955,000 $86,050,000 $89,304,000 $66,631,000
Other Income Expense $-274,796,000 $-64,497,000 $-14,000 $8,091,000
Other Non Operating Income Expenses $-4,097,000 $2,253,000 $-276,000 $2,547,000
Net Non Operating Interest Income Expense $20,102,000 $-2,159,000 $-2,155,000 $-2,335,000
Interest Expense Non Operating $4,013,000 $3,897,000 $37,000 $2,335,000
Operating Expense $120,674,000 $82,786,000 $85,168,000 $63,708,000
Selling And Marketing Expense $28,754,000 $15,064,000 $10,276,000 $10,068,000
General And Administrative Expense $41,186,000 $32,422,000 $37,014,000 $21,539,000
Total Other Finance Cost - - $2,118,000 -
Other Operating Expenses - - - -
Income & Earnings
Net Income From Continuing Operation Net Minority Interest $-355,062,000 $-143,879,000 $-82,715,000 $-53,702,000
Net Interest Income $20,102,000 $-2,159,000 $-2,155,000 $-2,335,000
Interest Income $24,115,000 $1,738,000 - $5,673,000
Normalized Income $-84,363,000 $-77,129,000 $-82,977,000 $-59,246,000
Net Income From Continuing And Discontinued Operation $-355,062,000 $-143,879,000 $-82,715,000 $-53,702,000
Total Operating Income As Reported $-100,368,000 $-77,223,000 $-80,546,000 $-59,458,000
Net Income Common Stockholders $-355,062,000 $-143,879,000 $-82,715,000 $-53,702,000
Net Income $-355,062,000 $-143,879,000 $-82,715,000 $-53,702,000
Net Income Including Noncontrolling Interests $-355,062,000 $-143,879,000 $-82,715,000 $-53,702,000
Net Income Continuous Operations $-355,062,000 $-143,879,000 $-82,715,000 $-53,702,000
Pretax Income $-355,062,000 $-143,879,000 $-82,715,000 $-53,702,000
Interest Income Non Operating $24,115,000 $1,738,000 - $5,673,000
Operating Income $-100,368,000 $-77,223,000 $-80,546,000 $-59,458,000
Gross Profit $20,306,000 $5,563,000 $4,622,000 $4,250,000
Special Income Charges - - $0 $-629,000
Per Share
Diluted EPS $-1.11 $-0.75 $-0.60 $-0.45
Basic EPS $-1.11 $-0.75 $-0.60 $-0.45
Other
Tax Effect Of Unusual Items $0 $0 $0 $0
Tax Rate For Calcs $0 $0 $0 $0
Normalized EBITDA (Bullshit earnings) $-78,044,000 $-71,300,000 $-81,095,000 $-54,578,000
Total Unusual Items $-270,699,000 $-66,750,000 $262,000 $5,544,000
Total Unusual Items Excluding Goodwill $-270,699,000 $-66,750,000 $262,000 $5,544,000
Reconciled Depreciation $2,306,000 $1,932,000 $1,845,000 $2,333,000
EBITDA (Bullshit earnings) $-348,743,000 $-138,050,000 $-80,833,000 $-49,034,000
EBIT $-351,049,000 $-139,982,000 $-82,678,000 $-51,367,000
Diluted Average Shares $321,202,025 $192,129,049 $137,993,736 $119,647,777
Basic Average Shares $321,202,025 $192,129,049 $137,993,736 $119,647,777
Diluted NI Availto Com Stockholders $-355,062,000 $-143,879,000 $-82,715,000 $-53,702,000
Gain On Sale Of Security $-270,699,000 $-66,750,000 $262,000 $6,173,000
Research And Development $50,734,000 $35,300,000 $37,878,000 $32,101,000
Selling General And Administration $69,940,000 $47,486,000 $47,290,000 $31,607,000
Other Gand A $41,186,000 $32,422,000 $37,014,000 $21,539,000
Restructuring And Mergern Acquisition - - $0 $629,000
Fetched: 2026-06-14
Balance Sheet (Annual)
Metric 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Assets
Net Tangible Assets $851,315,000 $62,156,000 $-24,660,000 $-29,707,000
Total Assets $915,813,000 $199,853,000 $59,356,000 $26,947,000
Total Non Current Assets $19,581,000 $14,813,000 $12,310,000 $13,022,000
Non Current Prepaid Assets $251,000 $181,000 $189,000 $183,000
Non Current Deferred Assets $1,665,000 $174,000 $0 -
Investmentin Financial Assets $2,391,000 $2,574,000 $1,168,000 $1,168,000
Goodwill And Other Intangible Assets $915,000 $490,000 $179,000 $244,000
Other Intangible Assets $915,000 $490,000 $179,000 $244,000
Current Assets $896,232,000 $185,040,000 $47,046,000 $13,925,000
Other Current Assets $803,000 $1,255,000 $440,000 $1,538,000
Prepaid Assets $3,492,000 $2,360,000 $1,569,000 $2,047,000
Inventory $2,776,000 $1,686,000 $2,078,000 $2,196,000
Receivables $4,680,000 $1,759,000 $1,652,000 $1,079,000
Accrued Interest Receivable $3,093,000 $339,000 - -
Accounts Receivable $1,587,000 $1,420,000 $1,652,000 $757,000
Allowance For Doubtful Accounts Receivable $-1,000 $-176,000 $0 -
Gross Accounts Receivable $1,588,000 $1,596,000 $1,652,000 -
Cash Cash Equivalents And Short Term Investments $884,481,000 $177,980,000 $41,307,000 $7,065,000
Cash And Cash Equivalents $635,347,000 $177,980,000 $41,307,000 $7,065,000
Cash Financial $635,347,000 $177,980,000 $41,307,000 $7,065,000
Other Non Current Assets - $174,000 - $1,351,000
Taxes Receivable - - $86,000 $0
Current Deferred Assets - - - $0
Other Receivables - - - $322,000
Cash Equivalents - - - -
Debt
Total Debt $43,457,000 $38,377,000 $72,651,000 $42,285,000
Long Term Debt And Capital Lease Obligation $41,875,000 $36,517,000 $70,878,000 $38,469,000
Long Term Debt $35,825,000 $30,128,000 $63,850,000 $31,168,000
Current Debt And Capital Lease Obligation $1,582,000 $1,860,000 $1,773,000 $3,816,000
Current Debt $134,000 $348,000 $399,000 $2,283,000
Other Current Borrowings $134,000 $348,000 $399,000 $1,863,000
Net Debt - - $22,942,000 $26,386,000
Liabilities
Total Liabilities Net Minority Interest $63,583,000 $137,207,000 $83,837,000 $56,410,000
Total Non Current Liabilities Net Minority Interest $42,435,000 $107,062,000 $72,587,000 $40,370,000
Derivative Product Liabilities $0 $69,875,000 $1,630,000 $1,892,000
Non Current Deferred Liabilities $560,000 $670,000 $79,000 $9,000
Current Liabilities $21,148,000 $30,145,000 $11,250,000 $16,040,000
Current Deferred Liabilities $2,778,000 $18,686,000 $2,669,000 $1,826,000
Payables And Accrued Expenses $6,440,000 $4,100,000 $3,563,000 $8,757,000
Payables $950,000 $815,000 $1,465,000 $3,756,000
Accounts Payable $950,000 $815,000 $1,465,000 $3,756,000
Current Notes Payable - - $0 $420,000
Other Current Liabilities - - - $451,000
Other Payable - - - $451,000
Other Non Current Liabilities - - - -
Equity
Common Stock Equity $852,230,000 $62,646,000 $-24,481,000 $-29,463,000
Total Equity Gross Minority Interest $852,230,000 $62,646,000 $-24,481,000 $-29,463,000
Stockholders Equity $852,230,000 $62,646,000 $-24,481,000 $-29,463,000
Gains Losses Not Affecting Retained Earnings $-9,021,000 $-10,510,000 $-10,517,000 $-10,402,000
Other Equity Adjustments $-9,021,000 $-10,510,000 $-10,517,000 $-10,402,000
Retained Earnings $-982,002,000 $-626,940,000 $-483,061,000 $-400,346,000
Preferred Stock Equity - - - -
Other
Ordinary Shares Number $358,741,605 $266,595,867 $161,113,744 $113,335,532
Share Issued $358,741,605 $266,595,867 $161,113,744 $113,335,532
Tangible Book Value $851,315,000 $62,156,000 $-24,660,000 $-29,707,000
Invested Capital $888,189,000 $93,122,000 $39,768,000 $3,988,000
Working Capital $875,084,000 $154,895,000 $35,796,000 $-2,115,000
Capital Lease Obligations $7,498,000 $7,901,000 $8,402,000 $8,834,000
Total Capitalization $888,055,000 $92,774,000 $39,369,000 $1,705,000
Additional Paid In Capital $1,843,218,000 $700,069,000 $469,081,000 $381,274,000
Capital Stock $35,000 $27,000 $16,000 $11,000
Common Stock $35,000 $27,000 $16,000 $11,000
Non Current Deferred Revenue $560,000 $670,000 $79,000 $9,000
Long Term Capital Lease Obligation $6,050,000 $6,389,000 $7,028,000 $7,301,000
Current Deferred Revenue $2,778,000 $18,686,000 $2,669,000 $1,826,000
Current Capital Lease Obligation $1,448,000 $1,512,000 $1,374,000 $1,533,000
Pensionand Other Post Retirement Benefit Plans Current $10,348,000 $5,499,000 $3,245,000 $1,641,000
Current Accrued Expenses $5,490,000 $3,285,000 $2,098,000 $5,001,000
Investments And Advances $2,391,000 $2,574,000 $1,168,000 $1,168,000
Available For Sale Securities $2,391,000 $2,574,000 $1,168,000 $1,168,000
Net PPE $14,359,000 $11,394,000 $10,774,000 $11,427,000
Accumulated Depreciation $-25,863,000 $-25,007,000 $-24,053,000 $-23,111,000
Gross PPE $40,222,000 $36,401,000 $34,827,000 $34,538,000
Leases $2,407,000 $1,889,000 $1,075,000 $1,075,000
Construction In Progress $2,514,000 $836,000 $894,000 $86,000
Other Properties $7,555,000 $6,862,000 $6,839,000 $6,666,000
Machinery Furniture Equipment $21,228,000 $19,553,000 $17,796,000 $17,578,000
Buildings And Improvements $6,518,000 $7,261,000 $8,223,000 $9,133,000
Properties $0 $0 $0 $0
Work In Process $30,000 $9,000 $26,000 $26,000
Raw Materials $2,746,000 $1,677,000 $2,052,000 $2,170,000
Other Short Term Investments $249,134,000 $0 - -
Preferred Stock - - - $0
Fetched: 2026-06-14
Cash Flow Statement (Annual)
Metric 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Free Cash Flow
Free Cash Flow $-76,289,000 $-45,038,000 $-61,279,000 $-45,724,000
Operating Activities
Operating Cash Flow $-71,982,000 $-42,643,000 $-60,649,000 $-45,226,000
Cash Flow From Continuing Operating Activities $-71,982,000 $-42,643,000 $-60,649,000 $-45,226,000
Operating Gains Losses $272,535,000 $63,443,000 $693,000 $-8,632,000
Investing Activities
Capital Expenditure $-4,307,000 $-2,395,000 $-630,000 $-498,000
Investing Cash Flow $-251,135,000 $-3,141,000 $-630,000 $-498,000
Cash Flow From Continuing Investing Activities $-251,135,000 $-3,141,000 $-630,000 $-498,000
Net Other Investing Changes $959,000 - - -
Capital Expenditure Reported $-445,000 $-289,000 $-47,000 -
Financing Activities
Issuance Of Capital Stock $574,528,000 $214,191,000 $63,676,000 $40,000,000
Financing Cash Flow $779,149,000 $182,450,000 $95,636,000 $43,265,000
Cash Flow From Continuing Financing Activities $779,149,000 $182,450,000 $95,636,000 $43,265,000
Net Other Financing Charges $-10,550,000 $-3,142,000 $2,824,000 $4,981,000
Net Common Stock Issuance $574,528,000 $214,191,000 $63,676,000 $40,000,000
Common Stock Issuance $574,528,000 $214,191,000 $63,676,000 $40,000,000
Cash Dividends Paid - - $0 $0
Net Preferred Stock Issuance - - - $0
Preferred Stock Issuance - - - $0
Other
Repayment Of Debt $-365,000 $-30,370,000 $-2,259,000 $-21,909,000
Issuance Of Debt $412,000 $0 $29,007,000 $20,000,000
Interest Paid Supplemental Data $25,000 $5,183,000 $0 -
End Cash Position $635,347,000 $177,980,000 $41,307,000 $7,065,000
Beginning Cash Position $177,980,000 $41,307,000 $7,065,000 $9,483,000
Effect Of Exchange Rate Changes $1,335,000 $7,000 $-115,000 $41,000
Changes In Cash $456,032,000 $136,666,000 $34,357,000 $-2,459,000
Proceeds From Stock Option Exercised $215,124,000 $1,771,000 $2,388,000 $2,001,000
Net Issuance Payments Of Debt $47,000 $-30,370,000 $26,748,000 $-1,909,000
Net Long Term Debt Issuance $47,000 $-30,370,000 $27,168,000 $-1,909,000
Long Term Debt Payments $-365,000 $-30,370,000 $-1,839,000 $-21,909,000
Long Term Debt Issuance $412,000 $0 $29,007,000 $20,000,000
Net Investment Purchase And Sale $-247,787,000 $-746,000 $0 -
Sale Of Investment $0 $254,000 $0 -
Purchase Of Investment $-247,787,000 $-1,000,000 $0 -
Net PPE Purchase And Sale $-3,862,000 $-2,106,000 $-583,000 $-423,000
Purchase Of PPE $-3,862,000 $-2,106,000 $-583,000 $-423,000
Change In Working Capital $-14,668,000 $20,862,000 $-2,698,000 $3,022,000
Change In Other Working Capital $-16,018,000 $16,608,000 $958,000 $-929,000
Change In Other Current Liabilities $-745,000 $293,000 $-510,000 $-821,000
Change In Other Current Assets $-1,926,000 $669,000 $-3,000 $0
Change In Payables And Accrued Expense $7,208,000 $4,950,000 $-3,988,000 $4,312,000
Change In Accrued Expense $6,940,000 $5,520,000 $-1,374,000 $715,000
Change In Payable $268,000 $-570,000 $-2,614,000 $3,597,000
Change In Account Payable $268,000 $-570,000 $-2,614,000 $3,597,000
Change In Prepaid Assets $-585,000 $-1,580,000 $1,636,000 $-387,000
Change In Inventory $-2,398,000 $-215,000 $-237,000 $-148,000
Change In Receivables $-204,000 $137,000 $-554,000 $995,000
Changes In Account Receivables $-204,000 $137,000 $-818,000 $-337,000
Other Non Cash Items $241,000 $-1,441,000 $915,000 $2,522,000
Stock Based Compensation $22,657,000 $15,661,000 $21,919,000 $9,164,000
Unrealized Gain Loss On Investment Securities $0 $645,000 $-640,000 -
Provisionand Write Offof Assets $9,000 $134,000 $32,000 $67,000
Depreciation Amortization Depletion $2,306,000 $1,932,000 $1,845,000 $2,333,000
Depreciation And Amortization $2,306,000 $1,932,000 $1,845,000 $2,333,000
Depreciation $2,306,000 $1,932,000 $1,845,000 $2,333,000
Gain Loss On Investment Securities $270,699,000 $66,750,000 $-262,000 $-6,173,000
Net Foreign Currency Exchange Gain Loss $1,836,000 $-3,307,000 $955,000 $-2,459,000
Net Income From Continuing Operations $-355,062,000 $-143,879,000 $-82,715,000 $-53,702,000
Net Short Term Debt Issuance - $0 $-420,000 $0
Short Term Debt Payments - $0 $-420,000 $0
Interest Paid Cff - - $0 $-1,808,000
Net Intangibles Purchase And Sale - - $-47,000 $-75,000
Purchase Of Intangibles - - $-47,000 $-75,000
Fetched: 2026-06-14